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Why Large Mining Pools are a Threat and How to Avoid it

In this talk at the MCC2019 conference in May, Bob McElrath, Blockchain Architect at Fidelity Investments, argues that large mining pools are the biggest threat to decentralization. According to him, there are few parties to contact and co-opt by hostile governments, attackers, while pools can censors transactions, refuse payout or cheat. "Any proposed decentralized pool must be markedly better," he said.